Advance Energy Share Discussion Threads

[hazl] 11/5/2021 07:51

Ah excellent!

[bad gateway] 11/5/2021 07:47

40,000BOPD gross is a no. worth being patient for imo.

[the chairman elect] 11/5/2021 07:40

Advance Energy's CEO Leslie Peterkin commented:

"We are delighted to hear this progress from Carnarvon to ensure drilling of the Buffalo-10 well is on track for later this year.



The drilling of this well is transformational to Advance Energy, representing a material value catalyst for the Company and our shareholders. In the success case, there is potential to deliver a gross production rate of around 40,000 barrels per day by the end of 2023, which in this current pricing environment would deliver exceptionally strong cash flow and compelling rates of return.



We are very excited for what the next six months may bring and will continue to provide updates to the market as we approach the various milestones of drilling activity on the Buffalo-10 well."

[cal57] 11/5/2021 07:35

Excellent news

[therealtonythetiger] 11/5/2021 07:31

RNS OUT

11 May 2021



Advance Energy plc

("Advance Energy" or the "Company")



Buffalo-10 Drilling Update



Advance Energy plc (AIM:ADV), the energy company seeking growth through acquisition or farm-in to non-operated interests in discovered upstream projects, is pleased to announce the following Buffalo-10 drilling update provided by Carnarvon Petroleum Limited ("Carnarvon") (ASX:CVN).

Highlights

· Buffalo-10 well is planned to be drilled in the fourth quarter of 2021

· Advance Energy's payment of US$20 million to acquire a 50% interest in the Buffalo PSC will be utilised for the drilling of the Buffalo-10 well

· Procurement of long lead equipment has commenced and is progressing well

· The tender process for a drilling rig is nearing completion

Petrofac, who are undertaking the drilling management services for the well, has identified the necessary long lead equipment to ensure the Buffalo-10 well is able to be drilled prior to the end of 2021.

As announced on 19 April 2021, following the completion of the recent successful placing, the Company's wholly owned subsidiary Advance Energy TL Limited has paid US$20 million to acquire a 50 per cent. interest in the Buffalo PSC, Offshore Timor-Leste. These funds will be utilised to fund the drilling of the Buffalo-10 well.

The procurement of long lead equipment has commenced, with orders placed for the supply of conductor pipe, wellhead, liner hanger and associated services. This long lead equipment is planned to be available before the end of the third quarter of 2021.



A tender process for the drilling rig is nearing completion, with the requirement for a suitable jack-up rig to be available in the fourth quarter of this year.



Carnarvon has also commenced the process of securing the necessary Timor-Leste Government approvals for drilling the Buffalo-10 well.



Advance Energy's CEO Leslie Peterkin commented:

"We are delighted to hear this progress from Carnarvon to ensure drilling of the Buffalo-10 well is on track for later this year.



The drilling of this well is transformational to Advance Energy, representing a material value catalyst for the Company and our shareholders. In the success case, there is potential to deliver a gross production rate of around 40,000 barrels per day by the end of 2023, which in this current pricing environment would deliver exceptionally strong cash flow and compelling rates of return.



We are very excited for what the next six months may bring and will continue to provide updates to the market as we approach the various milestones of drilling activity on the Buffalo-10 well."

[theaviator] 10/5/2021 12:28

Thanks mate. I've no problem in waiting. Nice to get them when unloved. Appreciated.

[purple11] 10/5/2021 10:58

good luck dude.just need to be patient for a couple of months.in before the crowd arrive!

[theaviator] 10/5/2021 09:16

Easing in mate. Thanks for the tip here. Love it

[hazl] 10/5/2021 08:49

Looking good.

[purple11] 10/5/2021 08:27

Sadaat Umar
@sadaatumar
Replying to
@Alexios1201
and
@advanceplc
Santos spud by weekend, and likely to finished their drill prog by august & then free for #ADV. Expecting ADV to get August slot, that could save mob/demob cost

[hazl] 09/5/2021 15:43

Adrian Cook of Cenarvon said

'The completion of this transaction is fantastic news for Carnarvon and Advance Energy and now we look forward to drilling the Buffalo-10 well later this year.

The joint venture will move to develop the field quickly to take advantage of the strengthening oil markets. This will be achieved by suspending the well as a future production well and commencing early development studies during 2021

The Buffalo field has the advantage of being in shallow water which enables a low cost project. This together with the certainty of the fields historical production characteristics enables a fast track timetable and makes Buffalo an exciting project for Carnarvon shareholders'.

[hazl] 09/5/2021 11:37

'The Advance Energy approach is to support and enhance the performance of upstream operators to deliver exceptional project outcomes and exceptional returns'.

[hazl] 09/5/2021 11:33

Subsequently....

[hazl] 09/5/2021 11:30

A useful back ground reading to buffalo.

[hazl] 09/5/2021 10:57

For anybody new.

[hazl] 09/5/2021 10:57

Optiva Securities have released a recent update on Advance Energy including their latest indicative valuation. Definitely worth a read! #ADV #hiddenvalue #unlockingva
lue

[hazl] 09/5/2021 10:53

Right on topic!

[hazl] 08/5/2021 12:25

Thanks.I don't hold many either, it is lumped into the virus stocks ,but I think it's medicines for COPD make it different and worthwhile.
Sorry for off topic people.

[homebrewruss] 08/5/2021 12:17

Hazl, I've tuned out slightly of SNG and reduced position size but there is some good info on the guild thread, particularly from Waterloo.

[hazl] 08/5/2021 11:39

Good to see you homebrews.
If you are prepared to be honest, is it worth joining the guild on the other share we are in ?
When I went into one before,by him, it was just used to promote his other stocks it seemed to me.

[homebrewruss] 08/5/2021 10:00

I've bought some here. Should hopefully get a good run up until spud and a good chance of a good drill result too.

[hazl] 08/5/2021 09:33

This next one is more sobering and I recommend reading.

[searcher0] 07/5/2021 11:59

I see. Ok, thanks.